Then compare that to median sales prices in a given zip code.

Instead, I'd just rely on a CMA (comparative market analysis) of renovated properties in the area from your realtor unless you have local MLS access yourself to run the report. 

It’s free and that is one way to get free listings.judical states also have to file a lawsuit and you can search civil suits or contact sheriffs offices to get the calendar and listing for foreclosurespaying for a site is all in one and maybe worth it compared to how much time you are spending searchjngif you stay in one area then I recommend what I mentioned  

Compare that number to the odds of being struck by lightning, and then act accordingly. 

I just do not want to take this possibility off the table if it could help us really get moving in terms of number of doors we have rented out (a 2/3/4 door rental is an exponential increase in our cash flow, compared to the single family home we are planning to buy first). 

@Shaylynn O'LearyI like creativity in your own market compared to chasing cash flow across the country.  

I would consider the cost of extracting your equity from the FL property by sale and then compare that to pulling equity by way of a cashout refinance.

Talk to both and compare.  

This is such a personal question no one can really answer it for you, call around to your local CPA's and compare.

It is also better than what I would have received for a comparable lot in other locations.